February 5, 2014 / 1:16 PM / 5 years ago

Hungary central bank voted 7-1 on Jan rate cut; one wanted smaller cut

BUDAPEST, Feb 5 (Reuters) - Seven of Hungary’s central bank policy makers voted last month to cut the base rate by 15 basis points to a new low of 2.85 percent, while one member voted for a smaller cut, the minutes of the meeting showed on Wednesday.

Rate setter Gyula Pleschinger did not attend the meeting. Janos Cinkotai supported a smaller, 10 basis point cut, the minutes showed.

The Monetary Council said uncertainty over the global financial environment warranted a cautious approach to monetary policy, but there could be room for more easing.

“Considering the outlook for inflation and taking into account perceptions of the risks associated with the economy as well as the improvement in the pace of economic growth, further cautious easing of monetary policy might follow,” the Council said in the minutes.

The bank has reduced its base rate from 7 percent in an unbroken string of cuts that began in August 2012. (Reporting by Krisztina Than)

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